The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
The new issue of the Seamless OCTG & Linepipe Market Tracker is now online at metalbulletinresearch.com.In this edition, Fastmarkets' research team delivers analysis of seamless OCTG and linepipe across international markets:Covid-19 underscores pipe outlookUnsurprisingly, the concern in the seamless pipe markets across the regions is the effect of the spread of Covid-19 on public health and econo...Read More
Three-month prices for base metals on the London Metal Exchange, except aluminium, closed in negative territory after trading on Wednesday May 27, with futures prices capped by risk-off sentiment created by reignited tensions between the United States and China.Tensions have flared between the two countries over China's proposals for new security laws in Hong Kong, pointing to a further deteriorat...Read More
Prices for hollow steel sections in Europe slipped further this week with lower import prices adding pressure to the weak domestic market, sources told Fastmarkets on Wednesday May 27.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?550-570 ($603-625) per tonne on Wednesday, down from ?,?560-580 per tonne one week previous."Demand is the...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The outbreak of coronavirus, the oil price crash and the impending global recession present an enormous challenge for energy and natural resources. How are you keeping up with the spread of Covid-19 and its impact on your sector?We&rs...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The most important driver of the zinc market in 2020 will be the performance of the world’s zinc smelting industry, according to Wood Mackenzie.The easing of trade tensions between the US and China, the struggling manufacturing...Read More
Fastmarkets has corrected its daily assessments for the nickel arbitrage, in the base metals arbitrage SHFE versus LME calculation, which were published incorrectly on Tuesday May 26 due to an input error.The assessment for the nickel import arbitrage $/tonne was wrongly published as -$188.49 per tonne on May 26 and should have been $194.25 per tonne.The assessment for the ...Read More
Alvance Aluminium Group, GFG alliance's global aluminium division, named Guillaume de Go??s its new chief operating officer Wednesday May 27.De Go??s was formerly the managing director of Aluminium Dunkerque, Europe's largest smelter with caapcity of 280,000 tonnes per year. He also held senior posts at Rio Tinto Alcan, Carbone Savoie and Michelin."He was there at the genesis of our business and h...Read More
Diamond industry reopening and adjusting to new normal as consumers emerge from lockdown. US retail jewelers resuming operations in most states, with emphasis on in-store hygiene, virtual consultations and curbside service. New York trade remains shut. China strengthens security law in Hong Kong, fueling concern about renewed pro-democracy protests and trade war. Polished and rough trading limited...Read More
RAPAPORT... Sales at Forevermark's stores in China have recovered strongly since the peak of Covid-19, with customers returning quicker than expected, the De Beers-owned retail brand reported."While much of our world and business is in flux right now, one thing we can be certain of is this pandemic will alter consumer expectations forever, but we can be confident that diamonds will continue t...Read More
RAPAPORT... A fancy-intense blue diamond ring with a high estimate of HKD 95 million ($12.3 million) will go under the hammer at the Magnificent Jewels auction at Christie's in Hong Kong.The marquise-cut, 12.11-carat piece, which is internally flawless, will lead the July 9 sale, Christie's said Wednesday.The Hong Kong auction was originally due to be held June 2, but was postponed amid the c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Technical reboundAluminium prices are rising as expected but this is merely a technical correction for now, one that is driven by short-covering. Huge oversupply of aluminium this year and next, growing geopolitical tensions and the uncertain macro-economic outlook do not give us confidence that a price rally is s...Read More
The Antamina copper and zinc mine in Peru has resumed operations following its shutdown due to the Covid-19 pandemic, shareholder Teck Resources said.The Vancouver, Canada-based miner, which has a 22.5% stake in Antamina, said that a reduced operating workforce had been mobilized with plans to start off at roughly 80% of full capacity after operations at Antamina were suspended last month to...Read More
The Covid-19 crisis is presenting an opportunity for the market to restart, refresh, and build on its experience of dealing with the diamond-trade slowdown of the past few years.RAPAPORT... In these unprecedented times, it would be foolish to make predictions about diamond-jewelry sales growth. We simply won't have any indication about the true state of consumer demand until at least three mo...Read More
(IDEX Online) - Pandora has re-opened two-thirds of its 375 North American outlets, using the Waitlist Me app to tell customers when they can enter. The Danish jewelry retail giant will allow no more than five customers in a store at any one time. The app, developed initially for restaurants to tell diners when their table is free, is being used to alert customers when there's a sales associa...Read More
(IDEX Online) - Zimbabwe's Murowa Diamonds has blamed erratic power supplies for a fall in output. Owners RioZim said the supply deficit remains a key risk across the group's operations despite a slight improvement in the first quarter of this year. Figures for 2019 show production down seven per cent on the previous year from 740,244 carats to 685,000 carats. The company has invested i...Read More
Nickel premiums in the United States and China dipped in the week to Tuesday May 26 while trade moved lower and premiums in Europe maintained their already-low levels, Fastmarkets was told.Lower offers drive US nickel briquette premiums downLack of arbitrage opportunity in China facilitates trade at lower levelsEuropean market stable despite optimism for forward nickel demand in the regionChina pr...Read More
RAPAPORT... Polished-diamond imports into Hong Kong plummeted 54% to $2.33 billion in the first three months of 2020, reaching their lowest quarterly total since 2009, as the coronavirus hit demand. Polished exports fell 45% to $2.12 billion, according to data from the Diamond Federation of Hong Kong, China. Hong Kong Trade Data for 1Q 2020Read More
(IDEX Online) - Alrosa is holding is biggest ever online auction, listing over 800 rough diamonds, as coronavirus restrictions continue. The state-owned Russian miner is providing 3D scans showing each rough diamond's external shape, internal inclusions, anticipated color and fluorescence. It has been holding pilot digital tenders with a small number of stones since October 2019, but has resp...Read More